Title X — TAXATION AND REVENUE

135.281. Application for income tax refund (Hazelwood Ford Plant) — approval procedures. — 1. Any taxpayer operating an approved retained business facility that is located within a state enterprise zone established pursuant to sections 135.200 to 135.256 may make an application t…

135.283. Program application — approval by department — executed agreement required, contents. — 1. A taxpayer shall apply to the department for approval to participate in the program authorized by sections 135.276 to 135.283. The application shall be in a form prescribed by and …

135.284. Contingent expiration of certain sections. — 1. The repeal and reenactment of sections 100.710 and 100.840, and the enactment of sections 135.276, 135.277, 135.279, 135.281, and 135.283 shall expire on January 1, 2006, if no essential industry retention projects have bee…

135.286. Revenue-producing enterprises not eligible for certain tax benefits — time period of exemptions. — 1. Notwithstanding any provision of law to the contrary, no revenue-producing enterprise shall receive the state tax exemption, state tax credits, or state tax refund as pr…

135.300. Definitions. — As used in sections 135.300 to 135.311, unless the context requires otherwise, the following terms mean: (1) "Missouri forestry industry residue", any residue that results from normal timber harvest or production to include slash, sawdust, shavings, edging…

135.305. Eligibility — amount of tax credit. — A Missouri wood energy producer shall be eligible for a tax credit on taxes otherwise due under chapter 143, except sections 143.191 to 143.261, as a production incentive to produce processed wood products in a qualified wood-produci…

135.307. Credit exceeding tax, not refunded, effect. — Any amount of credit which exceeds the tax due shall not be refunded but may be carried over to any subsequent taxable year, not to exceed four years. ­­-------- (L. 1985 H.B. 831 § 3, A.L. 1996 H.B. 1237) Effective 1-01-97…

135.309. Assignment of credit, procedure. — The wood energy producer may elect to assign to a third party the approved tax credit. Certification of assignment and other appropriate forms must be filed with the Missouri department of revenue. ­­-------- (L. 1985 H.B. 831 § 4, A.L.…

135.311. Application, content, filed where. — When applying for a tax credit the wood energy producer shall make application for the credit to the division of energy of the department of economic development. The application shall include: (1) The number of tons of processed wood…

135.313. Credit for charcoal producers. — 1. Any person, firm or corporation who engages in the business of producing charcoal or charcoal products in the state of Missouri shall be eligible for a tax credit on income taxes otherwise due pursuant to chapter 143, except sections 1…

135.315. Zero-cost adoption fund act — definitions — tax credit, amount — procedure — rules — sunset provision. — 1. This section and section 453.650 shall be known and may be cited as the "Zero-Cost Adoption Fund Act". 2. As used in this section, the following terms mean: (1) "F…

135.325. Title. — Sections 135.325 to 135.339 shall be known and may be cited as the "Adoption Tax Credit Act". ­­-------- (L. 1987 S.B. 402 § 1, A.L. 2021 H.B. 429 merged with H.B. 430)

135.326. Definitions. — As used in sections 135.325 to 135.339, the following terms shall mean: (1) "Business entity", person, firm, a partner in a firm, corporation or a shareholder in an S corporation doing business in the state of Missouri and subject to the state income tax i…

135.327. Adoption tax credit — nonrecurring adoption expenses, amount — individual and business entities tax credit, amount, time for filing application — assignment of tax credit, when. — 1. Any person residing in this state who legally adopts a special needs child on or after J…

135.329. Credit not allowed, when. — No credit shall be allowable for that portion of the nonrecurring adoption expenses for which a credit is allowable and taken under any similar provision of federal, state, or local law. Credit may be taken up to the amount allowable under sec…

135.331. Adopted child eighteen years of age or older, credit not allowed — exception. — No credit shall be allowable for the adoption of any child who has attained the age of eighteen, unless it has been determined that the child has a medical condition or disability that would …

135.333. Credit exceeding tax due or applied for, refundable, when — effect of assignment, transfer or sale of tax credit. — 1. (1) For tax years beginning on or before December 31, 2023, any amount of tax credit which exceeds the tax due or which is applied for and otherwise eli…

135.335. Credit reduced, amount, when. — In the year of adoption and in any year thereafter in which the credit is carried forward pursuant to section 135.333, the credit shall be reduced by an amount equal to the state's cost of providing care, treatment, maintenance and service…

135.337. Credit not to be considered for adoption subsidy. — A tax credit taken by a person or business entity under the provisions of sections 135.325 to 135.339 shall not be considered in determining the eligibility for, or the amount of, any adoption subsidy to the child adopt…

135.339. Rules authorized, procedure. — The director of revenue, in consultation with the children's division, shall prescribe such rules and regulations necessary to carry out the provisions of sections 135.325 to 135.339. No rule or portion of a rule promulgated under the autho…

135.341. Definitions — tax credit authorized, amount — application procedure — assignment — rulemaking authority — sunset provision. — 1. As used in this section, the following terms shall mean: (1) "CASA", an entity which receives funding from the court-appointed special advocat…

135.350. Definitions. — As used in this section, unless the context clearly requires otherwise, the following words and phrases shall mean: (1) "Commission", the Missouri housing development commission, or its successor agency; (2) "Director", director of the department of revenu…

135.352. Taxpayer owning interest in qualified project shall be allowed a state tax credit, how determined, cap — carry-back and carry-forward of credit authorized — rules promulgation and procedure. — 1. A taxpayer owning an interest in a qualified Missouri project shall, subjec…

135.355. Eligibility statement must be filed with tax return, failure to comply, effect — federal requirement to recapture, state requires to recapture, amount. — 1. The owner of a qualified Missouri project eligible for the Missouri low-income housing tax credit shall submit, at…

135.357. Capital gain exclusion, when. — A taxpayer shall be allowed to exclude from taxation under chapter 143 a portion of the capital gain, as calculated under the Internal Revenue Code of 1986, as amended, that results from the sale of a low-income project subsidized by the f…

135.359. Rules authorized, procedure. — The director or the commission may require the filing of additional documentation necessary to determine the accuracy of a tax preference claimed under the provisions of this section through the promulgation of rules. No rule or portion of …

135.361. Rules, effective, when — rules invalid and void, when. — Any rule or portion of a rule promulgated pursuant to this bill* shall become effective only as provided pursuant to chapter 536, including but not limited to section 536.028, if applicable, after August 28, 1997. …

135.362. Eligibility statement, low-income housing credit, not applicable, when. — 1. The provisions of subdivision (3) of section 135.350 shall not apply to any qualified Missouri project: (1) With respect to which a loan is made or insured under Title V of the U.S. Housing Act …

135.363. Sale, assignment, transfer of tax credits allowed, when — statement required, submission to director — rules. — 1. All or any portion of tax credits issued in accordance with the provisions of sections 135.350 to 135.363 may be transferred, sold or assigned to parties wh…

135.400. Definitions. — As used in sections 135.400 to 135.430, the following terms mean: (1) "Certificate", a tax credit certificate issued by the department of economic development in accordance with sections 135.400 to 135.430; (2) "Community bank", either a bank community dev…

135.401. Community development fund, creation, administration by department of economic development, expenditures. — There is hereby created in the state treasury a revolving fund to be administered by the department of economic development to be known as the "Community Developme…

135.403. Tax credit for qualified investment in Missouri small businesses and qualified investors in community banks or community development corporations — credit evidenced by certificate, limitation of amount of investment eligible for tax credit. — 1. Any investor who makes a …

135.405. Total tax credit minimum — maximum — not to limit other investments. — The total amount of tax credit evidenced by certificates of tax credit issued to or owned, directly or indirectly, by a single taxpayer authorized by the department who has invested in a Missouri smal…

135.408. Qualified investment in a small business, requirements — to be eligible for tax credit — required purposes for investments. — A qualified investment in a Missouri small business may be made either through an unsecured loan or the purchase of equity or unsecured debt secu…

135.411. Investment to remain in business for five years — failure to comply, repayment of tax credit. — The amount of the qualified investment made in a Missouri small business must remain in that business for a minimum of five years. Withdrawal of the investment prior to the mi…

135.414. Requirements for business to be eligible for tax credit investments — ineligible persons or entities. — The business receiving the investment must have annual revenues of two million dollars or less determined as of the end of the most recent fiscal year and the operatio…

135.416. Investment percentage required to be spent in Missouri. — All investments in Missouri small businesses for which tax credits are claimed under the provisions of sections 135.400 to 135.430 shall satisfy the conditions of being registered or specifically exempt from regis…

135.420. Director of department of economic development, duties, certificate of tax credit — procedure to request. — The director shall be responsible for the administration and issuance of the certificates of tax credits authorized by sections 135.400 to 135.429. The director sh…

135.423. Revocation of tax credit, grounds for — procedures. — The department may revoke a tax credit certificate if any representation to the department in connection with the application proves to have been false when made or if the application violates any conditions establish…

135.426. Unused balance of tax credit — director to issue a new certificate for unused balance. — The Missouri department of revenue or secretary of state, whichever is applicable, shall accept a certificate of tax credit in lieu of other payment in such amount as is equal to the…

135.429. Penalties and procedural matters how determined. — Except as otherwise specifically provided in sections 135.400 to 135.430, interest and penalty provisions and procedural matters under the provisions of sections 135.400 to 135.430 shall be determined pursuant to and in …

135.430. Department of social services, rulemaking authority. — The department of social services shall promulgate such rules and regulations, pursuant to chapter 536 and section 660.017, as are necessary to define and certify target areas as defined in section 135.400. The depar…

135.432. Rulemaking authority, procedure. — 1. The department of economic development shall promulgate such rules and regulations as are necessary to implement the provisions of sections 135.400 to 135.430. 2. No rule or portion of a rule promulgated under the authority of this c…

135.445. Presidential disaster declaration — tax credit for insurance deductible on homestead — definitions — amount, procedure — rules. — 1. As used in this section, the following terms mean: (1) "Homestead", real property occupied by an eligible individual taxpayer as their pri…

135.457. Tax credit, intern and apprentice recruitment — definitions — credit amount, criteria — requirements — annual report — rulemaking — sunset date. — 1. This section shall be known and may be cited as the "Intern and Apprentice Recruitment Act". 2. As used in this section, …

135.460. Citation of law — tax credit, amount, claim, limitation — allowable programs — report — apportionment of credits. — 1. This section and sections 620.1100 and 620.1103 shall be known and may be cited as the "Youth Opportunities and Violence Prevention Act". 2. As used in …

135.475. Rebuilding communities and neighborhood preservation act cited. — Sections 135.475 to 135.487 shall be known and may be cited as the "Rebuilding Communities and Neighborhood Preservation Act". ­­-------- (L. 1999 S.B. 20 § 1) Effective 1-01-00

135.478. Definitions. — As used in sections 135.481 to 135.487, the following terms mean: (1) "Department", the department of economic development; (2) "Director", the director of the department of economic development; (3) "Distressed community", as defined in section 135.530; (…

135.481. Taxpayers incurring eligible costs entitled to tax credit, amount, qualifications. — 1. (1) Any taxpayer who incurs eligible costs for a new residence located in a distressed community or within a census block group as described in subdivision (10) of section 135.478, or…

135.484. Limitation on available tax credits, allocation of available credits. — 1. Beginning January 1, 2000, tax credits shall be allowed pursuant to section 135.481 in an amount not to exceed sixteen million dollars per year. Of this total amount of tax credits in any given ye…